HDFC weathers RERA, GST in September quarter to show mortgage kingship

The quarterly results of Housing Development Finance Corp. Ltd (HDFC) have followed an identical script for long, with the mortgage king never really throwing a nasty surprise to the market.

The September quarter numbers are no different and HDFC’s profit beat Street estimates marginally, by growing 15% to Rs2,101 crore. It has maintained profit growth in the mid-teens even during bad times. Core operations continued to be strong as net interest income grew 14%, albeit marginally down from the previous quarter’s 16% growth. This comes on the back of a strong loan growth of about 18% from the year-ago period, maintained for several quarters now.